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Alphageo Q3 Results: Revenue Up 51% YoY, Net Loss Narrows to ₹5.84 Cr Amid Legal Headwinds
Alphageo (India) Limited reported a standalone revenue of ₹16.84 crore for Q3 FY26, marking a 51% increase compared to ₹11.16 crore in Q3 FY25. While the company remains in the red, its standalone net loss narrowed to ₹5.84 crore from ₹7.79 crore in the same quarter last year. However, the company faces significant regulatory pressure, including a recent Show Cause Notice from the Enforcement Directorate regarding ₹16.01 crore in seized fixed deposits and a total contingent tax liability of ₹22.47 crore.
Key Highlights
Standalone Revenue from operations increased 51% YoY to ₹16.84 crore in Q3 FY26.
Standalone Net Loss narrowed to ₹5.84 crore for the quarter, compared to a loss of ₹7.79 crore in Q3 FY25.
Total standalone income for the nine-month period ended Dec 2025 rose to ₹68.34 crore from ₹56.66 crore YoY.
Contingent liabilities for income tax demands stand at ₹22.47 crore, including ₹16.45 crore indemnified for the Managing Director.
Received a Show Cause Notice from the Directorate of Enforcement (ED) on February 3, 2026, regarding ₹16.01 crore in seized fixed deposits.
💼 Action for Investors
Investors should exercise caution as the company continues to report losses despite revenue growth and faces substantial legal risks from the ED and tax authorities. Monitor the outcome of the FEMA-related Show Cause Notice and the company's progress toward operational break-even.
Alphageo and CMD Receive ED Show Cause Notice Over ₹16 Crore Seizure
Alphageo (India) Limited and its Chairman & Managing Director, Mr. Dinesh Alla, have received a Show Cause Notice from the Enforcement Directorate (ED) on February 3, 2026. This notice pertains to ongoing adjudication proceedings regarding the seizure of ₹16 crores previously effected by the ED under FEMA regulations. The company is currently contesting the seizure and stated that no material adverse effect on its overall financial position is anticipated beyond the seized amount. Management intends to file legal submissions within the prescribed timelines to seek the withdrawal of the funds.
Key Highlights
Show Cause Notice received from Enforcement Directorate on February 3, 2026, involving a ₹16 crore seizure.
Both the Company and its Chairman & Managing Director (CMD) are named in the adjudication proceedings.
The matter is related to an ongoing dispute under the Foreign Exchange Management Act (FEMA) dating back to 2023.
Company claims no impact on operations or financial activities other than the potential loss of the seized ₹16 crore.
Legal proceedings are currently sub judice with an appeal filed under Section 19 of FEMA.
💼 Action for Investors
Investors should exercise caution as the involvement of the CMD in ED proceedings introduces governance risk. Monitor the adjudication outcome closely, as a final forfeiture of the ₹16 crore would impact the company's cash reserves.